Harsco sales revenue falls due to weak markets in 2016

US: Harsco’s sales revenue has fallen by 16% year-on-year to US$1.45bn in 2016 from US$1.72bn in 2015. Its adjusted operational income, excluding unusual items, fell by 14% to US$116m from US$135m. The steel services company blamed the falling sales on lower revenues from its Metals & Minerals and Industrial divisions despite a pick up in income in its fourth quarter.

“2016 proved to be a turning point for Harsco. We exceeded the key financial targets established at the beginning of the year, despite persistent end-market weakness,” said president and chief executive officer Nick Grasberger.

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